Narwhal Capital Management increased its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 23.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,222 shares of the exchange traded fund's stock after acquiring an additional 2,293 shares during the quarter. Narwhal Capital Management's holdings in Invesco QQQ were worth $5,731,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ during the fourth quarter valued at $36,000. Midwest Capital Advisors LLC bought a new position in Invesco QQQ during the fourth quarter valued at $51,000. Banque Transatlantique SA bought a new position in Invesco QQQ during the fourth quarter valued at $57,000. Finally, Perritt Capital Management Inc bought a new position in Invesco QQQ during the fourth quarter valued at $61,000. Institutional investors own 44.58% of the company's stock.
Invesco QQQ Price Performance
QQQ stock traded up $8.13 during trading on Tuesday, hitting $539.78. 45,312,930 shares of the company's stock traded hands, compared to its average volume of 38,714,611. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The business has a fifty day simple moving average of $503.69 and a 200 day simple moving average of $503.45.
Invesco QQQ Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.44%.
About Invesco QQQ
(
Free Report)
PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.
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